Umicore views 'difficult' markets

摘要

The world's biggest maker of specialty zinc products this week described trading conditions for copper and zinc as "difficult". In a report on the three months to March 31, 2002, Brussels-based Umicore SA noted that both development of demand and margins had showed "little improvement to the depressed conditions which have prevailed since the second half of 2001".Umicore generated an operating profit of 144 million euros in 2001 from revenue of some 3.5 billion euros, but chief executive Thomas Leysen warned recently what lower profits were likely this year because of the low copper and zinc prices. The company also suffered during the first three months of this year from a strike at its Auby zinc smelter in France. However, Umicore is completing a number of internal programmes that are expected to lead to somewhat improved operating profits.